Universal Display Increases Lower End Of FY24 Revenue Guidance, Revises Range From $625M-$675M To $635M-$675M, Est $652.615M
Portfolio Pulse from Benzinga Newsdesk
Universal Display has revised its FY24 revenue guidance, raising the lower end from $625M to $635M, while maintaining the upper limit at $675M. The estimated average revenue is now $652.615M. The company notes the OLED industry's volatility and the potential for various factors to materially impact results.
May 02, 2024 | 9:54 pm
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Universal Display raises the lower end of its FY24 revenue guidance to $635M, keeping the upper end at $675M, with an estimated average of $652.615M amid OLED industry volatility.
Raising the lower end of revenue guidance typically signals a company's increased confidence in its financial performance, which can positively influence investor sentiment and potentially lead to a short-term uptick in its stock price. Given the specific mention of the OLED industry's volatility, it underscores the company's cautious optimism despite potential market fluctuations.
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